TITLE
Title
STOP LOSS COVERAGE FOR 2020 PLAN YEAR
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SPONSOR
Sponsor
Clarence Grier (Carol Campbell)
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BACKGROUND
Background
Guilford County contracts for stop loss coverage each year. Currently the deductible for this coverage is $425,000. The 2019 contract with United Healthcare (UHC) for this coverage stipulates that there is a 50% limit to the premium increase allowed for 2020. The coverage was bid for 2020, and UHC was the only carrier who submitted a bid. Premiums projected through 2019 are $656,820, and the plan has been reimbursed a total of $1,099,165 to date.
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BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Consider approval for stop loss coverage with United Healthcare for the 2020 plan year. The current rate is $20.50 per employee/retiree per month; the renewal rate is $30.75. This rate maintains the current deductible level of $425,000. Total premiums for the 2020 calendar year are projected to be $985,230, up from $656,820 in 2019.
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